Fidelity bank banner UBA banner
CBN assures on solutions to economic crisis •Clears the air on forex management strategies

By News Express on 04/12/2016

Share on facebook Yahoo mail icon Gmail icon Share on Google+

Views: 1,416


The Central Bank of Nigeria (CBN) on Saturday evening reassured that it remains committed to the task of finding solutions to the country’s current economic recession.

“At this critical time in the life of our country the CBN will continue to explore avenues with the Federal Government in order to find solutions to the current economic situation,” CBN Acting Director of Corporate Communications Isaac Okorafor said in a statement issued in Abuja.

He noted that “already Nigerians are waking up to the call to be more productive and to look inwards and to be less dependent on the importation of foreign goods and services.”

The apex bank was apparently responding to its immediate past governor Sanusi Muhammadu Sanusi, now Emir of Kano, who harshly criticised the incumbent CBN Management at a public forum in Abuja on Friday.

Okorafor, who refrained from mentioning Sanusi’s name, said: “First I want to state that the Central Bank of Nigeria has set up an inter-bank foreign exchange market where anyone who wishes to buy foreign exchange can bid for and buy through their banks. It is not true that CBN allocates dollars. There is nowhere in the world that the central bank sits by and allows vicious speculators to solely distort the value of its currency endlessly.

“All central banks intervene to buy or sell in the market to ensure that the local currency is protected from dubious attacks.

“The channels for advice and contribution of ideas on the current economic situation by all patriotic Nigerians are open.

“It is rather unfortunate that some people have chosen to play to the gallery and to make statements to disparage those in leadership at this time in total insensitivity to the larger interests of the Nigerian economy.

“We should not forget that the seed of our current economic crisis was planted by the failure of those who occupied public office in the past but failed to act in the long term interest of the Nigerian economy. It is easy to criticise from outside.

“It is always easier and the grass greener when people are out of office. The challenge we face today is a choice between pandering to the established interest in Nigeria’s speculative economy and the protection of the wages of the real stakeholders who work hard on fixed incomes, for they are the core victims of Naira depreciation.”

•Photo shows CBN Governor Godwin Emefiele.

Source News Express

Posted 04/12/2016 09:21:08 AM

 

Share on facebook Yahoo mail icon Gmail icon Share on Google+


 

CLASSIFIED ADS

 

You may also like...
MIRP congratulates Buhari

Obuh most qualified to be Delta Governor, says...

Women leaders eager to negotiate with Boko Haram...

RIGHTSView: WANTED: RIGHT-BASED AGENDA FROM 2015 IMO PDP...

How Africa’s super-rich spend their millions

Sen. Goje: IGP gets ultimatum to return NASS...

Rivers denies audio recording on Governor Wike

UNESCO tasks FG to invest more, initiate political...

Court orders forfeiture of Governors’ Forum’s N1.4b to...

THE ILLUSION OF BARRACKS OPTION, by Olusegun Adeniyi...

Keshi bounces back as Super Eagles Coach, finally...

Leave NIPC alone, Staff Union tells sacked CEO...

 

Latest News Boko Haram kills Army Commander, several soldiers We won’t substitute Ganduje over bribe allegation — APC •Explains source of ‘bribes’ Osun PDP members sue Adeleke over fake certificate Man charged with sex crimes involving 300 boys INEC removes names of 1,931 persons from Kaduna voters’ register Fayemi reinstates five Perm Secs sacked by Fayose, to get salary arrears Gunmen kidnap 20 students from Cameroonian school Anambra lawmakers to IGP: Caution the State Command over sealing of Assembly Complex 2019: Atiku doesn’t have second term hidden agenda — Campaign Strategist 8th Senate worst in attendance: Ndume Gov Abubakar imposes 12-hour curfew on five Bauchi communities Army flushes out criminals in Northwest

 

Most Read NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (422,711 views) Nigerian female sex addict opens up, says ‘I like it with both men and women’ (390,798 views) Shameless Genevieve Nnaji exposes breasts in public (323,877 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (272,582 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (244,831 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (227,817 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (209,598 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (191,142 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (176,491 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (168,907 views) Lagos plane crash: Journalist releases victims’ names (165,481 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (152,314 views)

 

Zenith Zero Balance First Bank chat banking

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (74) Business & Economy (3,803) Business Verdict (54) Columnists (964) Complaints & Requests (95) Enterprise & Opportunities (208) Entertainment (568) Features (670) Global Business Monitor (311) International (2,707) Interview (167) Live Commentary (28) Love Matters (146) Maggie's Blog (38) News (40,698) Opinion (1,145) Pidgin (13) Politics (7,819) Religion (903) Sports (1,780) Stock Watch (35) AMA & Al Jazeera Global Update

 

 

 

 

APO Group Partner

 

 

CLASSIFIED ADS

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera